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Dec 30, 2012
12/12
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having said that, it has become part of our deficit negotiation. i'm troubled by the notion that we're somehow going to give a tax break to some 6,000 very fortunate americans and incur a new expense for our federal government of some $130 billion or $140 billion in the process. what are we thinking? at a time whaoef to try to -- we have to try to bring together the resources to reduce our deficit, why would we want to give a new bonus break for the wealthiest people in this country when it comes to the estate tax. at that to me would be a step backwards. i hope we are not forced into any agreement that includes it, although i stand here knowing full well that if there is an ultimate compromise there will be parts of it i find disgusting and reprehensible which i may have to swallow in the name of following a compromise to avoid the fiscal cliff. that is the nature of a compromise. i hope that one isn't included but it may be. we have to do things important for this economy and one of the most important is to make sure we extend unemployment benefi
having said that, it has become part of our deficit negotiation. i'm troubled by the notion that we're somehow going to give a tax break to some 6,000 very fortunate americans and incur a new expense for our federal government of some $130 billion or $140 billion in the process. what are we thinking? at a time whaoef to try to -- we have to try to bring together the resources to reduce our deficit, why would we want to give a new bonus break for the wealthiest people in this country when it...
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Dec 28, 2012
12/12
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CNBC
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the deficit has been improving. the federal deficit has improved over the last couple quarters. >> so is it the case that perhaps because the economy has done better that perhaps that would save us from a credit rating downgrade even if we go over the cliff? >> i don't expect another downgrade from the other rating firms. the next step would be putting it on negative watch. all three major credit rating firms have a negative outlook. the next step is a negative watch and then a downgrade. we don't expect that to happen. especially if the debt ceiling is raised, which is likely, not many people have been speaking about it, but that's likely to come out over the next couple of weeks. then there's the entitlement reform, which probably is more importantly actually than the deficit talks. >> so in terms of entitlement reform, if we have a mini deal, so to speak, where certain tax rates are maintained for the middle class, let's say, but the amount of time in which entitlement reform can be worked out is an extended time
the deficit has been improving. the federal deficit has improved over the last couple quarters. >> so is it the case that perhaps because the economy has done better that perhaps that would save us from a credit rating downgrade even if we go over the cliff? >> i don't expect another downgrade from the other rating firms. the next step would be putting it on negative watch. all three major credit rating firms have a negative outlook. the next step is a negative watch and then a...
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Jan 1, 2013
01/13
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dropping being squeezed every year by my conservative friends on the other side of the aisle, with deficits remaining high, every dollar of sacrifice that the wealthy forego is sacrifice that we will later be asking of real middle-class, modest-income americans. every dollar that the top 2% of taxpayers do not pay under this deal, we will eventually ask folks of modest means to foreg forego -- to forego in social security or medicare or medicaid or head start benefits or other items that benefit the real middle class. i believe it is gravely shortsighted to look at these issues in isolation from each other, especially since the republicans have made crystal clear they intend to seek mandatory spending cuts just two months from now using the debt limit as leverage. so number three, why in this deal do we make the tax benefits for the rich permanent while the progressive tax benefits we put in place in 2009 to help people of modest means, why are those temporary? for example, the estate taxes that benefit the wealthiest are made permanent. the earned income tax credit that affects the lower i
dropping being squeezed every year by my conservative friends on the other side of the aisle, with deficits remaining high, every dollar of sacrifice that the wealthy forego is sacrifice that we will later be asking of real middle-class, modest-income americans. every dollar that the top 2% of taxpayers do not pay under this deal, we will eventually ask folks of modest means to foreg forego -- to forego in social security or medicare or medicaid or head start benefits or other items that...
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Dec 31, 2012
12/12
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WUSA
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the president suggested lawmakers take action on deficit reduction in the next few months and that more tax revenue could be involved in those discussions. but republicans are furious at that possibility. >> i'm willing to support revenue to deal with this problem. the overall problem. but what i will not agree to is using revenue to replace spending reductions. >> reporter: even if the senate frawfs deal by midnight the house still has to pass the measure before the president can sign into it law. randall pinkston, cbs news, washington. >> even if it takes a few days to finish lawmakers say the cuts will be made retroactively but for federal employees they could go to work on wednesday not knowing if they will be sent home. if those automatic spending cuts kick in, there might not be enough money to run their agencies. kristen. >> reporter: the words that i keep hearing over and over are us from straight and confused. people are very frustrated with all this uncertainty, congress, and even the phrase fiscal cliff. at the same time people are confused and very concerned about what going
the president suggested lawmakers take action on deficit reduction in the next few months and that more tax revenue could be involved in those discussions. but republicans are furious at that possibility. >> i'm willing to support revenue to deal with this problem. the overall problem. but what i will not agree to is using revenue to replace spending reductions. >> reporter: even if the senate frawfs deal by midnight the house still has to pass the measure before the president can...
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Dec 31, 2012
12/12
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the same is true for any future deficit agreement. we will have to do more to reduce our debt and deficit. i am willing to do more but it will have to be balanced. we will have to do it in a responsible way. i am willing to reduce our government's medicare bills by finding new ways to reduce the costs of health care in this country. that is something which all agree on. we want to make sure that medicare is there for future generations but the current trajectory of health care costs is going up so high that we have to find ways to make sure that it is sustainable. that kind of reform has to go hand in hand with doing some more work to reform our tax code so that wealthy individuals, the biggest corporations, cannot take advantage of loopholes and deductions that are not available to most of the folks standing up here for most americans. there is still more work to be done in the tax code to make it fair even as we are also looking at how we can strengthen something like medicare. if republicans think i will finish the job of the defic
the same is true for any future deficit agreement. we will have to do more to reduce our debt and deficit. i am willing to do more but it will have to be balanced. we will have to do it in a responsible way. i am willing to reduce our government's medicare bills by finding new ways to reduce the costs of health care in this country. that is something which all agree on. we want to make sure that medicare is there for future generations but the current trajectory of health care costs is going up...
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Dec 28, 2012
12/12
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MSNBCW
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and really, is not interested in a balanced approach to deficit reduction. it's been pretty clear that that's the story we have been telling and it happens to be the truth. >> i understand that two of colleagues proposed cuts to medicare for a hike in the debt ceiling. what do you make of that offer? >> i think one of the things that people don't realize is that it's a dirty little secret. the republicans don't want to cut the things that americans want cut. and they want to cut things that americans don't want cut. poll after poll shown americans do not want deficit reduction done by cutting medicare and medicare and social security. so they propose and saw the same scenario when paul ryan put the budget out and because the american people rejected the kind of draconian cuts that the republicans want to make so, you know, that's a nonstarter in the senate. i think it's a nonstarter with the president. sure can pass the house but going nowhere past that. >> the smaller offer we hear that the president is making at 3:00, to congressional leadership, what kind
and really, is not interested in a balanced approach to deficit reduction. it's been pretty clear that that's the story we have been telling and it happens to be the truth. >> i understand that two of colleagues proposed cuts to medicare for a hike in the debt ceiling. what do you make of that offer? >> i think one of the things that people don't realize is that it's a dirty little secret. the republicans don't want to cut the things that americans want cut. and they want to cut...
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Dec 29, 2012
12/12
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WJLA
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extending tax cuts while doing nothing to curb spending or address the long-term deficit crisis. if they fail to pass a mini-deal, virtually everyone's income taxes will go up. even if the income taxes are extended virtually all workers are due to see less in their paychecks, starting in january, where the temporary 2% payroll tax cut is set to expire. don't assume there will be a mini-deal, a source close to the meetings going on tonight, the prospects are quote not too promising they'll get to a bipartisan agreement to prevent everyone's taxes from going up. david? >> our chief white house correspondent jon karl. of course, this waiting game is already affecting americans' 401(k)s. the stock market, five straight losses. let's bring in bianna golodryga. if these lawmakers thought that waiting to the 11th hour wouldn't have an effect, look no further than the stock market. >> take a look at what happened just the few days. the dow lost 158 points. for the week, down 252 points. david, it's real money. the average 401(k) lost $3,000, $4,000. december is traditionally a good month
extending tax cuts while doing nothing to curb spending or address the long-term deficit crisis. if they fail to pass a mini-deal, virtually everyone's income taxes will go up. even if the income taxes are extended virtually all workers are due to see less in their paychecks, starting in january, where the temporary 2% payroll tax cut is set to expire. don't assume there will be a mini-deal, a source close to the meetings going on tonight, the prospects are quote not too promising they'll get...
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Dec 28, 2012
12/12
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as a former governor, we don't operate with big deficits. you can't do that and we're in trouble in this country financially. the long term and in the short term, yes, we'll have a recession. it won't be a bad one but it will be one and nobody wants a recession. in the long term i think wall street goes crazy and you will see 15,000, 17,000 in the dow because finally somebody has done something serious about the deficit. i don't believe they will if they come to an agreement. >> you know, governor rendell, i want to know if you agree with governor dean. part of the message, one of the things that strikes me, the message for so long has been we can't go over the cliff, we can't go over the cliff. here are all the things that will happen to individual americans if we go over the cliff. there's a lot of anxiety out there. we've been hearing about that, we've seen the markets up and down. to some degree, i understand the political arguments but in terms of the argument of the stability of the country and our economy, do you agree with governor d
as a former governor, we don't operate with big deficits. you can't do that and we're in trouble in this country financially. the long term and in the short term, yes, we'll have a recession. it won't be a bad one but it will be one and nobody wants a recession. in the long term i think wall street goes crazy and you will see 15,000, 17,000 in the dow because finally somebody has done something serious about the deficit. i don't believe they will if they come to an agreement. >> you know,...
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Dec 29, 2012
12/12
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WMAR
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extending tax cuts while doing nothing to curb spending or address the long-term deficit crisis. if they fail to pass a mini-deal, almost everyone's income taxes will go up. even if the income taxes are extended virtually all workers are due to see less in their paycheck as the temporary tax increase is set to inspire. the prospects are quote not too promising they'll get to a bipartisan agreement to prevent everyone's taxes from going up. david? >> our chief white house correspondent jon karl. this waiting game is already affecting americans' 401 cans. the stock market, five straight losses. let's bring in bianna golodryga. >> take a look at what happened just the few days. the dow lost 158 points. for the week, down 252 points. david, it's real money. lost 3,000, $4,000. december is traditionally a good month for the markets. >> and for home sales. here's what the president had to say about that. >> america wonder why it is, in this town for some reason, you can't get stuff done in an organized timetable. why everything has to wait until the last minute. we're now at the last m
extending tax cuts while doing nothing to curb spending or address the long-term deficit crisis. if they fail to pass a mini-deal, almost everyone's income taxes will go up. even if the income taxes are extended virtually all workers are due to see less in their paycheck as the temporary tax increase is set to inspire. the prospects are quote not too promising they'll get to a bipartisan agreement to prevent everyone's taxes from going up. david? >> our chief white house correspondent jon...
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Jan 1, 2013
01/13
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CSPAN
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our deficit this year alone is likely to be about $1.3 trillion. this would reduce it down to $1.24 trillion. with the $60 billion of new revenue that it gains. most importantly it sets up three more fiscal cliffs over the next three months. when appropriation spending expires on march 27, when the debt ceiling has to be increased at the end of february, and when the sequester has to be dealt with at the very same time. so all we have done is to stumble forward and to an even less predictable situation with far fewer resources to invest in our nation and our children's future. thank you, mr. speaker. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from missouri seek recognition? >> mr. speaker, to address the house for one minute. the speaker pro tempore: without objection, the gentleman from missouri is recognized for one minute. mr. cleaver: thank you, mr. speaker. i don't particularly like the bill that's going to come to the floor. i'm going to vote for it. the reason is that i stumbling through on
our deficit this year alone is likely to be about $1.3 trillion. this would reduce it down to $1.24 trillion. with the $60 billion of new revenue that it gains. most importantly it sets up three more fiscal cliffs over the next three months. when appropriation spending expires on march 27, when the debt ceiling has to be increased at the end of february, and when the sequester has to be dealt with at the very same time. so all we have done is to stumble forward and to an even less predictable...
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Dec 27, 2012
12/12
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MSNBCW
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they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play hardball. but i think they'll have a different argument later in the year. >> i guess both believe it's better to go over the falls than cut a deal that's going to hurt them at home. tea party people don't respond to boehner or to cantor or mccarthy or any of them. somebody in the next tea party is going to be yelling from the back, you sold us out. i think that's why the tea party is never going to be functional. they don't really respond to getting things done. they respond to anger back home. >> i think 2014 democrats are also aware of these tax incre
they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play...
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Dec 27, 2012
12/12
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FOXNEWSW
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we have had 1.422, 1.29 and on the way to another trillion dollars deficit for these years. what the president is proposing is not pragmatic whatsoever and really is a reflection of him i suppose living in a fantasy world. >> what do you think the deal that speaker boehner offered the president? >> well, i was against the plan b because i don't see this as being a tax revenue increase issue. most important is spending. we could georgia back -- go back to the simpson bowles commission. the most important thing, we have to deal with spending. we live in an america where the federal government now is spending 25% of our gross domestic product. when you study the obama budget that would increase to 32%. that's where the problem has to i am emanate from. the spending side of our budget is 62% of what we spend money on. it's not just about defense or discretionary. >> is there any indication the president's deal, that he may come back with, will address spending? i haven't heard substantial spending cuts out of any deals on the left. >> absolutely you are not hearing that whatsoev
we have had 1.422, 1.29 and on the way to another trillion dollars deficit for these years. what the president is proposing is not pragmatic whatsoever and really is a reflection of him i suppose living in a fantasy world. >> what do you think the deal that speaker boehner offered the president? >> well, i was against the plan b because i don't see this as being a tax revenue increase issue. most important is spending. we could georgia back -- go back to the simpson bowles...
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Dec 31, 2012
12/12
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CSPAN
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the tax would go as the deficit went up. if we go down as the deficit went down. i think the imports -- i think they started this problem, and the need to, you know, revitalizes through this. let me give you one example. although sun. a utozone. they used to only sell american- made parts. now it is all chinese. they have taken over by autozone. host: thank you. our listeners can hear more on c-span radio. we just heard from senator mcconnell. he says that they are very close to a deal. the sequestration issue will be dealt with in the coming weeks and months. robert is turning us from canton, ohio. democrats lined. caller: hello. one thing about the social security and stuff, that should be like a savings account. nobody should be able to get for any debt. that should be what we work for for our future. they should have to ask us if they want to use the us -- use that to pay debt. as for the taxes, the need to get their heads together and work together, and if they do not want to work together, we need to vote them out and get someone in there who will work hand-
the tax would go as the deficit went up. if we go down as the deficit went down. i think the imports -- i think they started this problem, and the need to, you know, revitalizes through this. let me give you one example. although sun. a utozone. they used to only sell american- made parts. now it is all chinese. they have taken over by autozone. host: thank you. our listeners can hear more on c-span radio. we just heard from senator mcconnell. he says that they are very close to a deal. the...
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Dec 30, 2012
12/12
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KPIX
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might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durbin of illinois, and senator tom coburn of oklahoma. then we'll look forward to 2013 with an all-star panel include peggy noonan of the "wall street journal." dee dee myers of "vanity fair." "time" magazine's executive editor michae michael duffy, and also "time" columnist joe klein. and we'll hear from major garrett and nancy cordes. >> you going to get a deal today, sir? >> hope so. >> o'donnell: it's all ahead because this is "face the nation." captioning sponsored by cbs from cbs news in washington, "face the nation" with bob schieffer. substituting for bob schieffer, cohost of "cbs this morning," norah o'donnell. >> o'donnell: good morning, again. tom coburn and dick durbin are here, and we'll turn to both of you in just a moment. but we want to start with some new information from chief white house correspondent major garrett
might look like but will it actually do anything to cut the deficit? and what happens nay don't get a deal? we'll hear from two senators who have been working together on deficit reduction, assistant majority leader dick durbin of illinois, and senator tom coburn of oklahoma. then we'll look forward to 2013 with an all-star panel include peggy noonan of the "wall street journal." dee dee myers of "vanity fair." "time" magazine's executive editor michae michael...
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Dec 27, 2012
12/12
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CSPAN
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theses why we're getting massive deficits today. we have never had anything like this without a major war. you can rightly wrap the knuckles of george bush, but that does not excuse president obama for what he has done. democrats and republicans share blame for what happened with the federal reserve, not calling them to read and counto account. even though i am a republican, i am for candidates who do those things. host: c-span democrat tweets in, which your flat tax treat capital gains as income? guest: my proposal would not. if you get the rate low enough, that would be a compromise i would be happy to make. that is a kind of conversation we should be having, how we get the rate as low as possible. if you get that very low rate, i will be a supporter of it. host: independence day tweets in, are you telling us you will stop investing if capital gains rate goes up to equal the ordinary income rate? guest: it is not a matter what we do in our own business, media has gone through a real convulsion. in terms of when you make an investm
theses why we're getting massive deficits today. we have never had anything like this without a major war. you can rightly wrap the knuckles of george bush, but that does not excuse president obama for what he has done. democrats and republicans share blame for what happened with the federal reserve, not calling them to read and counto account. even though i am a republican, i am for candidates who do those things. host: c-span democrat tweets in, which your flat tax treat capital gains as...
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Dec 29, 2012
12/12
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FOXNEWSW
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the most deficit reduction is going to come from no deal. and that's what we need. that's what this economy needs, the biggest threat to economic growth, if the deficit and the debt, 4 trillion, everybody talks about it as some sort of grand bargain. it's barely a start. this isn't a fiscal cliff, it's a fiscal bunny hill, let's slide down it. >> if we slide down, jonas, in the first week, people are going to open up the paycheck and see less money there. i don't think that people understand that at this point. >> people get used to tax cuts, that's the problem. short-term expiring tax cuts, including the payroll tax cut. you know, it's not the best way to solve a problem, but this cliff is the result of not coming up with deals and they're not going to come up with battery deal, if it's negotiated it's not the ideal way to solve it out after deficit. we'd like to gradually raise taxes and cut spending, but this is the best we're going to get. any of the deals they would agree on, probably leave us to the other guest's point, close to a trillion dollars anyway, and
the most deficit reduction is going to come from no deal. and that's what we need. that's what this economy needs, the biggest threat to economic growth, if the deficit and the debt, 4 trillion, everybody talks about it as some sort of grand bargain. it's barely a start. this isn't a fiscal cliff, it's a fiscal bunny hill, let's slide down it. >> if we slide down, jonas, in the first week, people are going to open up the paycheck and see less money there. i don't think that people...
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Dec 31, 2012
12/12
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republican mcconnell to accept the fact taxes on wealthiest should go up a little bit sweas well as a deficit reduction package. if they can't say yes to good offers i have an obligation to make sure the entire burden of deficit reduction doesn't fall on seniors who are relying on medicare. >> republicans are expressing frustration saying the president is trying to put the blame on them for going off the cliff but when senator mcconnell was brought a few days ago mcconnell's office says he got a call from senator reed or democrats to talk about the fiscal cliff in about a month. they feel like they have not gone the extra pile here. >> the vice president getting a call today. what do they make of all of that? >> that could be a big deal. it shows the white house push back they are going to say look he has been pulling out all of the stops with the vice president in delaware came to the white house today working the phones we are told they had multiple conversations with senator mcconnell. a year and a half ago they talked about raising the debt ceiling it was joe biden a lot of years working
republican mcconnell to accept the fact taxes on wealthiest should go up a little bit sweas well as a deficit reduction package. if they can't say yes to good offers i have an obligation to make sure the entire burden of deficit reduction doesn't fall on seniors who are relying on medicare. >> republicans are expressing frustration saying the president is trying to put the blame on them for going off the cliff but when senator mcconnell was brought a few days ago mcconnell's office says...
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Dec 28, 2012
12/12
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WTTG
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instead, the gop wants deeper spending cuts to address the nation's deficit. the republican and democratic leaders in the senate continue to blame the other side. >> i guess with the dysfunctional republican caucus in the house, even the speaker can't tell what they are he going to do because he backed off of his own proposal. >> republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> the senate is in session on capitol hill and house speaker banner has called lawmakers back into session sunday night at 6:30. but that only leaves just over 24 hours to come up with a deal. we want to know what you think about all of this. what do you think about congress not reaching a deal on the fiscal cliff? do you think it's possible that a compromise will be reached before the deadline. we want to know. >> we are already getting some great comments from you this morning. carlos russell wrote in and said, if i don't do my job, i would get fired. same thing should be for them. i kno
instead, the gop wants deeper spending cuts to address the nation's deficit. the republican and democratic leaders in the senate continue to blame the other side. >> i guess with the dysfunctional republican caucus in the house, even the speaker can't tell what they are he going to do because he backed off of his own proposal. >> republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >>...
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Dec 28, 2012
12/12
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WTTG
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insurance is still available for 2 million people and that lays the groundwork then for additional deficit reduction in and economic growth steps that we can take in the new year. let's not miss this deadline. that is the bare minimum we should be able to get done. it shouldn't be that hard, since democrats and republicans both say they don't want to see taxes go up on middle class families. i just have to repeat, you know, outside of washington, nobody understands how it is that this seems to be a repeat pattern over and over again. ordinary folks, they do their jobs. they meet deadlines. they sit down and discuss things and things happen. if there are disagreements, they sort through the disagreements. the notion that our elected leadership can't do the same thing is mind boggling to them and it needs to stop. so, i am modestly optimistic an agreement can be achieved. nobody's going to get 100% of what they want but let's make sure that middle class families and the american economy, in fact, the world economy are not adversely impacted because people can't do their jobs. all right. than
insurance is still available for 2 million people and that lays the groundwork then for additional deficit reduction in and economic growth steps that we can take in the new year. let's not miss this deadline. that is the bare minimum we should be able to get done. it shouldn't be that hard, since democrats and republicans both say they don't want to see taxes go up on middle class families. i just have to repeat, you know, outside of washington, nobody understands how it is that this seems to...
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Dec 31, 2012
12/12
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part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge opportunity around energy. we are producing more energy and america can become an energy exporter. how do we do that in a way that also deals with some of the environmental challenges that we have at the same time. so that's going to be a third thing. but the most immediate thing i've got to do, starting on january 1st, if congress doesn't act before the end of the year, is make sure that taxes are not going up on middle class families. and because it is going to be very hard for the economy to sustain its current growth trends if suddenly
part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge...
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Dec 31, 2012
12/12
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WTTG
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however, in this case, there was no focal deficit. the person was normal except foc headache or other manifestations that we don't know, but the fact that you're doing well, it looks like all you need to do is be given blood thinner. she should be completely normal. >> and but here's the question, the concern i had. this is her second blood clot, o couple yearsod ago, she suffered one in her leg.eg the fact that it's happened again, is there, should there bd more of a concern now? >> well, the previous blood clot was in the oleg, and those are - they only go to the lungs, they don't go to the brain, but thet treatment is the same. the you do give the same anti coagulants. so in this case, this is the first time she had it in the head, and basically, probably was ala variety of factors, the trauma, the dehydration, infection. i think that the anti coagulation, i think there's a chance she can completely recover. >> can blood clots be prevented? >> to an extent, by hydration, making sure there's no inflammatory component, so streeting i
however, in this case, there was no focal deficit. the person was normal except foc headache or other manifestations that we don't know, but the fact that you're doing well, it looks like all you need to do is be given blood thinner. she should be completely normal. >> and but here's the question, the concern i had. this is her second blood clot, o couple yearsod ago, she suffered one in her leg.eg the fact that it's happened again, is there, should there bd more of a concern now?...
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Dec 27, 2012
12/12
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finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. why was walmart producing it? i think it was a symbolic gest
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do...
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Dec 31, 2012
12/12
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part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge opportunity around energy. we are producing more energy and america can become an energy exporter. how do we do that in a way that also deals with some of the environmental challenges that we have at the same time? so that's going to be a third thing. but the most immediate thing i've got to do, starting on january 1st, if congress doesn't act before the end of the year, is make sure that taxes are not going up on middle class families. and because it is going to be very hard for the economy to sustain its current growth trends if suddenly
part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge...
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Dec 29, 2012
12/12
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is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several times before. it was really a similar debate to what we had in 2008. we had the same debate in 2010. we had a similar debate in 2011 when we were dealing with the debt ceiling issue the first time around. and we dealt it with it in the last election. and the differences have always been that president obama has maintained that tax cuts should be allowed to expire for people making more than $250,000. mitt romney called for extending all the tax cuts fully. and making other changes to the tax code. but, you know, i mean, he wouldn't be in o
is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several...
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the president and house speaker john boehner had once talked of a grand bargain with $4 trillion in deficit reduction. instead the congressional budget office calculated today that extending the bush era tax cuts for 99% of americans would add $4 trillion to the deficit over the next decade. the senate measure delays mandatory pentagon and domestic spending cuts by two months. as the house convened at midday a number of republican congressmen complained the bill is still too heavy on tax hikes and too light on spending cuts. ohio's steve la tourette dismissed it as a, quote, package put together by a bunch of sleep-deprived october octogenenarians on new year's eve and the alabama representative said the house needs more time. >> the house must postpone this vote until congress and the american people have time to study and evaluate this extraordinarily complex legislation and its impact on taxes, revenue, the economy our debt and a myriad of other issues. >> woodruff: tennessee democrat steve cohen warned about the consequences of not taking the senate deal. >> my district can't afford to
the president and house speaker john boehner had once talked of a grand bargain with $4 trillion in deficit reduction. instead the congressional budget office calculated today that extending the bush era tax cuts for 99% of americans would add $4 trillion to the deficit over the next decade. the senate measure delays mandatory pentagon and domestic spending cuts by two months. as the house convened at midday a number of republican congressmen complained the bill is still too heavy on tax hikes...
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Dec 29, 2012
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last-minute process calls into question washington's ability to deal with the hard issues of tax reform and deficit reduction. >> the prospects for the economy are incredibly dim until we put in place a bigger deal, tackle these challenges, and put some certainty into the economy and boost confidence. >> reporter: meanwhile, americans watched with worry and frustration. >> i think they're all failing us a great deal and i'm so sick and tired of them fighting. >> the equivalent of worried about your mortgage after you're already homeless. so it's, like i said, sad. they have a job to do and they're not doing it. >> reporter: now, with public pressure mounting, the house and senate are expected to be back in session tomorrow, ready for a vote that could impact the economy for better or for worse. kate? >> kristen welker at the white house. nbc's moderator of "meet the press" david gregory joins me now. as we've said, david, you sat down with president obama this afternoon for an exclusive interview that airs tomorrow morning, but give us a hint. is he optimistic? do you come away with any hope that w
last-minute process calls into question washington's ability to deal with the hard issues of tax reform and deficit reduction. >> the prospects for the economy are incredibly dim until we put in place a bigger deal, tackle these challenges, and put some certainty into the economy and boost confidence. >> reporter: meanwhile, americans watched with worry and frustration. >> i think they're all failing us a great deal and i'm so sick and tired of them fighting. >> the...
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Dec 31, 2012
12/12
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part of that is deficit reduction. part of it is also making sure that we're investing, for example, in rebuilding our infrastructure, which is broken. and, you know, if we are putting people back to work, rebuilding roads, bridges, schools, in part paying for it by some of these broader, long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, you know, we've got a huge opportunity around energy. we are producing more energy, and america can become an energy exporter. how do we do that in a way that also deals with the environmental challenges we have at the same time? so that's going to be a third thing. but the most immediate thing i've got to do, starting on january 1, if congress doesn't act before the end of the year, is to make sure that taxes are not going up on middle class families. because it is going to be very hard for the economy to sustain its current growth trends if suddenly we
part of that is deficit reduction. part of it is also making sure that we're investing, for example, in rebuilding our infrastructure, which is broken. and, you know, if we are putting people back to work, rebuilding roads, bridges, schools, in part paying for it by some of these broader, long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, you know, we've got a huge...
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Dec 27, 2012
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medicaid deficit finance right now. those are key parts of a safe bet that we'll b will be fallinr their own financial weight unless they are fixed. what we really have to do on behalf of the next generation. gerri: they want to raise the debt ceiling again, as a matter of fact by monday we will be out of dough. it is unconscionable to me we are in this position again. let's remember what happened last time. the market sold off, the economy went into the tank. will that happen all over again? >> i think it is a serious possibilities out like to make that they don't mix the debt ceiling in with the fiscal cliff. we have to get to next without a self-inflicted recession and take on the debt ceiling which a symptom of the national debt. if we can deal with the national debt, we can get a deal on the debt ceiling. but that is a lot of work. gerri: the war of words going on is not helping. harry reid saying it is republicans fault and somebody from boehner's office said harry reid has to talk less and legislate more. it is c
medicaid deficit finance right now. those are key parts of a safe bet that we'll b will be fallinr their own financial weight unless they are fixed. what we really have to do on behalf of the next generation. gerri: they want to raise the debt ceiling again, as a matter of fact by monday we will be out of dough. it is unconscionable to me we are in this position again. let's remember what happened last time. the market sold off, the economy went into the tank. will that happen all over again?...
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Dec 30, 2012
12/12
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is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several times before. it was really a similar debate to what we had in 2008. we had the same debate in 2010. we had a similar debate in 2011 when we were dealing with the debt ceiling issue the first time around. and we dealt it with it in the last election. and the differences have always been that president obama has maintained that tax cuts should be allowed to expire for people making more than $250,000. mitt romney called for extending all the tax cuts fully. and making other changes to the tax code. but, you know, i mean, he wouldn't be in o
is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several...
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who should pick up the burden for deficit reduction? working people who have seen their wages go down or the top 2% who have done phenomenally well, while their effective tax rate, as mitt romney reminded us by not releasing his tax returns, is extremely low. so to my mind, what this deficit reduction debate is about is asking the wealthiest people, the large corporations to help us with deficit reduction and give a break for a change to the middle class and working families. >> as you say, one that would mean less money for seniors with the social security adjustment is off the table, are you more optimistic about getting a deal done. >> we still have a long way to go. >> what do you see as the major sticking point? >> one of the sticking pointing, what the republicans want to do is continue the 2010 agreement on lower estate tax rates, which means, chris, $120 billion tax break over a ten-year period for the top 0.2 of 1%. they get $120 billion tax break. and people come forward and say we're very serious about deficit reduction. thir
who should pick up the burden for deficit reduction? working people who have seen their wages go down or the top 2% who have done phenomenally well, while their effective tax rate, as mitt romney reminded us by not releasing his tax returns, is extremely low. so to my mind, what this deficit reduction debate is about is asking the wealthiest people, the large corporations to help us with deficit reduction and give a break for a change to the middle class and working families. >> as you...
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Dec 26, 2012
12/12
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long-term consequence of leaving things the way they are in the fiscal cliff takes $7.3 trillion out of deficit over ten years, isn't that what we really have to do? it seems to me i would really be interested in investing in american equities if i knew the financial situation was under hold >> you say the ends justify the means, no matter how painful? >> it doesn't matter how painful it is and it will be a short shallow recession if we go into it. if we kick the can down the road as so many of you are saying we hope would happen. that's not what should happen for the long-term future of the country. >> you're saying, come on, folks, let's settle. it won't be that big of a deal. right? >> i do disagree with howard a little bit in that i don't think cutting $7.3 trillion, the way this deal says that we should, is the best way to -- to deal with our long-term budget issues. kind of like, you know, you know you have to lose weight so you starve yourself as opposed to some sort of pragmatic balance of, you know, diet and exercise and this deal doesn't get you to the pragmatic part. the flip side, o
long-term consequence of leaving things the way they are in the fiscal cliff takes $7.3 trillion out of deficit over ten years, isn't that what we really have to do? it seems to me i would really be interested in investing in american equities if i knew the financial situation was under hold >> you say the ends justify the means, no matter how painful? >> it doesn't matter how painful it is and it will be a short shallow recession if we go into it. if we kick the can down the road...
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Jan 1, 2013
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they know that we've got to make a down payment on deficit reduction. they know that we've got to protect the middle class and we've got to focus on -- let's -- what i haven't heard about in a couple of days are, our needs get back to the number one issues. creating jobs and getting this economy turned around. this is one of the first things that we have to do so we can move on aggressively towards that. >> bottom line, house republicans are meeting right now. they've just started a second meeting of the day. what do you anticipate will happen tonight? >> you know, i said earlier today, predicting what this group of republican and the house members will do is it certainly a challenge. i know that if -- from working with them as many years as i have, i know there are enough responsible republicans that there would be enough democrats and republicans that would pass that bill and send it to the president so we can prevent 98% of americans from having their tacks increased and we could get a handle on the deficit reduction problem. >> you think there's a d
they know that we've got to make a down payment on deficit reduction. they know that we've got to protect the middle class and we've got to focus on -- let's -- what i haven't heard about in a couple of days are, our needs get back to the number one issues. creating jobs and getting this economy turned around. this is one of the first things that we have to do so we can move on aggressively towards that. >> bottom line, house republicans are meeting right now. they've just started a...
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not enough deficit reduction on the spending cuts in this bill. they don't like the bill. they are now saying they may take a vote on an amended bill and as i said the senate saying they are not going to take that up. >> we saw vice president biden instrumental in getting this deal done on the senate side. met with the democratic caucus on the house side this morning. can he move republicans? >> it doesn't appear so. not on the house. he met with p nancy pelosi and other democrats today. but it does not appear that the republicans in the house are going to send the bill back to the senate and doesn't appear had a vice president biden is making my headway with those gop republicans. >> all right. jennifer johnson, live on capitol hill with the latest. jennifer, thank you. could be a long night. certainly a long week already. >>> stay with news4 for the up-to-the minute on the information on the fiscal cliff. we will be monitoring lawmakers on the hill and have an update in the next half hour. of course, you can always get details on nbcwashington.com. >>> breaking news righ
not enough deficit reduction on the spending cuts in this bill. they don't like the bill. they are now saying they may take a vote on an amended bill and as i said the senate saying they are not going to take that up. >> we saw vice president biden instrumental in getting this deal done on the senate side. met with the democratic caucus on the house side this morning. can he move republicans? >> it doesn't appear so. not on the house. he met with p nancy pelosi and other democrats...
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Dec 30, 2012
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i think there is a deficit there of very broad-minded leadership, and there is certainly a deficit of trust between the congress and the president, and 20 republican in congress and the democrats. so plenty of fault to go around. >> o'donnell: dee dee, what about that? mitch mcconnell, who is really now at the heart of make something sort of deal today about how far he can take republicans, he says the president called him last week. it was the first time he's talked to the president since november 16. why is-- is there something the president is responsible for that he's not reached out enough to republicans and established that kind of trust that there has been lacking? >> look, i would have liked to have seen the president do more reaching out during the entirety of his first term. keep in mind, the president has been negotiating with john boehner, and that was the agreed upon format. he's been in conserves with him, and when push comes to shove, boehner cannot get these deals done in his caucus. the big change is not in the white house. it's in the culture of congress. it has beco
i think there is a deficit there of very broad-minded leadership, and there is certainly a deficit of trust between the congress and the president, and 20 republican in congress and the democrats. so plenty of fault to go around. >> o'donnell: dee dee, what about that? mitch mcconnell, who is really now at the heart of make something sort of deal today about how far he can take republicans, he says the president called him last week. it was the first time he's talked to the president...
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it ought to be about reducing the deficit and debt. they're suggesting we want new taxes, higher taxes on people in this country to pay for new spending. >> republicans continue saying they're waiting for harry reid to make a counter offer. >> they're not making that tonight. he's told us that's not going to happen it but they're working on it. a sounds like a change of entitlement programs is irritating them. >> republicans created way of calculating inflation to lower payments to recipients of social security. the senate majority leader offered this update a short time ago. >>> i was really gratified to hear republicans took their dammed for social security benefit cuts off the table. they should never have been on the table. there's still significant distance between the sides but negotiations continue. there's still time left and we intend to continue negotiations. >> senator mitch mcconnell says there was no single issue that remains an impossible sticking point. all that's is needed he says is a willingness, interest, or courage
it ought to be about reducing the deficit and debt. they're suggesting we want new taxes, higher taxes on people in this country to pay for new spending. >> republicans continue saying they're waiting for harry reid to make a counter offer. >> they're not making that tonight. he's told us that's not going to happen it but they're working on it. a sounds like a change of entitlement programs is irritating them. >> republicans created way of calculating inflation to lower...
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this started out as a discussion about cutting the debt, cutting the deficit and now what's going to happen is the smallest plans on the table are going to-- are not really going to cut the deficit in the long run and don't have major spending cuts and i noticed at one point when he was asked about the sequester, not just the tax side, but the automatic spending cuts about to kick in. he said if we raise revenue by the wealthy paying more, that would be sufficient to turn off this request or what's called the automatic spending cuts and that's what republicans have been suggesting if he raises more revenue raising taxes on the rich, he's not going to put it towards the deficit, but the president kind of suggested that today. >> and a question from the beginning and it's your segment, go ahead. >> i've been on the show for ten seconds, by first time on the "the five", you've interrupted me and contradicted me. >> there will be plenty more time for that, and welcome to "the five", and bob beckel. >> can i ask my question of ed. because ed, you mentioned that i had experience in dealing
this started out as a discussion about cutting the debt, cutting the deficit and now what's going to happen is the smallest plans on the table are going to-- are not really going to cut the deficit in the long run and don't have major spending cuts and i noticed at one point when he was asked about the sequester, not just the tax side, but the automatic spending cuts about to kick in. he said if we raise revenue by the wealthy paying more, that would be sufficient to turn off this request or...
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Dec 24, 2012
12/12
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the deficit of about $1 trillion that is for fiscal 2013. that assumes that somehow the fiscal cliff doesn't happen and we don't reduce the deficit by $600 billion. national debt, about $16 billion , debt held by the public -- as a percentage it is getting up there. we've had it before. as we talked about two weeks ago it is not so much that the size of the debt it is how fast the debt is growing in comparison to the size of the economy. you don't want to pay off the debt but you want it to fall. host: how did we get to this point? why is the government spending so much and under this president, we've seen the debt go up $1 trillion each year over the last four years. where is it going? guest: there are two main ways to look at it. right now, we're still coming out of this economic crisis. so you have large debts for four years mainly because you have low revenues as people don't have jobs or they are getting paid less. then there has been extra spending programs over the last four years but also, we have this mandatory spending programs tha
the deficit of about $1 trillion that is for fiscal 2013. that assumes that somehow the fiscal cliff doesn't happen and we don't reduce the deficit by $600 billion. national debt, about $16 billion , debt held by the public -- as a percentage it is getting up there. we've had it before. as we talked about two weeks ago it is not so much that the size of the debt it is how fast the debt is growing in comparison to the size of the economy. you don't want to pay off the debt but you want it to...
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i want it to go for deficit reduction. but that's not what we're hearing. >> the sequestration delay that republicans would like to see a 30-day delay. take it to the march deadline for the debt limit. the democrats want to go further out. what would you accept? >> the sequestration was signed into law by the president 18 months ago. it takes effect january 2nd. it was an important part of the last debt limit discussion. there's no way in the world that you can play that forward to the next debt limit discussion. that just doesn't work. the sequestration has to go forward as it is written as the president signed into law. remember all of this, the tax piece, the sequestration and don't forget obama care taxes, all of those were things signed by the president. clearly he wanted this scenario, or he wouldn't have signed those pieces of legislation. >> i would like to push a bit more on bill's previous question about tax hikes. because if i'm not wrong and do correct me if i'm wrong, you have said before that you would not vo
i want it to go for deficit reduction. but that's not what we're hearing. >> the sequestration delay that republicans would like to see a 30-day delay. take it to the march deadline for the debt limit. the democrats want to go further out. what would you accept? >> the sequestration was signed into law by the president 18 months ago. it takes effect january 2nd. it was an important part of the last debt limit discussion. there's no way in the world that you can play that forward to...